Agenda - Council - 12/14/2004 - Laserfiche WebLink

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(d) (e) A standard Seller's Affidavit with respect to judgments, bankruptcies, tax liens, mechanics liens', parties in possession, unrecorded interests, encroachment or boundary line questions, and related matters, properly executed on behalf of City. Any well certificate required by M.S. § 1011.235. The Assessment Agreement. At the closing, Developer shall execute, where appropriate, and deliver to the City: (a) The Assessment Agreement. (b) A cashiers check payable to the City of Ramsey for $326,700 which represents the purchase price of the Development Property. Section 2.7 Real Estate Taxes, Special Assessments, Utility Bills. Real estate taxes due and payable on the Development Propoerty in all years prior to that in which closing occurs, including any amounts otherwise payable in such years which may have been deferred pursuant to the Minnesota Statutes or other applicable law, shall be paid by the City. Real estate taxes due and payable in the year in which closing occurs, including any amount otherwise payable in such year which may have been deferred pursuant to the Minnesota Statutes or other applicable law, shall be prorated as of the Closing Date based upon the parties' respective periods of ownership of the Development Property in the calendar year of closing. Real estates taxes on the Development Propoerty in the years subsequent to the Closing Date shall be paid by Developer On or prior to the Closing Date, City shall pay all special assessments, whether or not then due, then levied against the Development Property. Section 2.8 Possession. City shall deliver possession of the Development Property to Developer on the Closing Date. Section 2.9 Developer's Contingencies. Developer's obligation to close under this Agreement is expressly conditioned upon each of the following contingencies being satisfied or waived on or before the closing date: (a) The Environmental Audit and Developer's inspections and investigations of the Development Property shall have disclosed no unsatisfactory conditions or defects, including no unsatisfactory environmental conditions. (b) Developer having determined that the Development Property is physically suitable (including but not limited to, the elevation and soil conditions), for the construction thereon of the Minimum Improvements. (c) Developer having determined that it will be able to obtain and the City having approved financing which, together with Developer's equity, is sufficient for the Construction of the Minimum Improvements.